Unemployment: What’s in a Number?
The most comprehensive measure of unemployment (U6) stands at a whopping 12.6% for Connecticut, according to new data from the U.S. Bureau of Labor Statistics.
That’s six full percentage points over the commonly reported U3 figure of 6.6%.
The slow recovery hasn’t supplied as much relief to the underemployed or to discouraged job seekers as we may have hoped.
It’s shocking to see six full added points of pain in the U6 number — which, even during other rough times, rarely exceeds four points.
Obviously, the recovery is still leaving some behind.
Jobs and the economy must be job one for all policymakers.
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